Private Pension lump sum 25% tax free

SCOOP 64

i have a private Uk pension of which i can take 25% tax free, if i did take this and then transferred it to Ireland am i right in understanding i would then be taxed here on it, if so what percentage.

Henry Ford III

Where do you live?

SCOOP 64

https://www.boards.ie/discussion/comment/118782704#Comment_118782704

Ireland

Henry Ford III

What options (if any) have you been offered in the UK?

You could potentially transfer it back and take the 25% tax free. Anything beyond that is replacement (post retirement) income so will be taxable.

SCOOP 64

I am at the age now that i could take 25% tax free now and leave the rest until my actual retirement age, so 25% tax free from a Uk pension transferred to my Irish bank account here, what do mean by could potentially transfer back ? thanks

The J Stands for Jay

Transfer to an Irish pension first. Then you can take 25% tax free and leave the balance in an A(M)RF. You'd probably be best to get advice on these transactions.

Henry Ford III

https://www.boards.ie/discussion/comment/118814478#Comment_118814478

AMRF's don't exist anymore.

Jim2007

https://www.boards.ie/discussion/comment/118814478#Comment_118814478

The UK is now a third country, which means the EU directive on pensions including the facilitation of transfers no longer applies. I know there were negotiations going to replace it, but I have not heard the outcome.